(Reuters) -Drug distributor McKesson raised its fiscal 2026 profit forecast on Wednesday, betting on strong growth in its oncology and specialty drug distribution businesses.

Shares of the company rose about 2% in extended trading.

Drug distributors in the United States are expanding their presence in the market for specialty medicines, which treat complex conditions such as rheumatoid arthritis and cancer, due to their high profit margins.

McKesson now expects adjusted earnings per share in the range of $38.35 to $38.85 for fiscal 2026, compared to its previous outlook of $38.05 to $38.55 per share. Analysts, on average, expect a profit of $38.33 per share, according to data compiled by LSEG.

Earlier on Wednesday, peer Cencora also raised its 2026 profit forecast and said it will inve

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